Lloyds Banking Group shares (LSE:LLOY) are currently moving sideways in a serious consolidation, and an expected breakout will favor bears when it does occur.
From February to April 2020, price dropped massively, and it has been consolidating since then. Right now, price is closer to the lower Trendline and it may break it to the downside.
The RSI period 14 is below the level 50, and it may go towards the levels 40 and 30 within the next several weeks. By this time, it could be well below the lower Trendline, and that would mean a strong bearish signal.
The outlook on LLOY is bearish and the targets are accumulation territories at 30.00, 25.00 and 20.00.
Trading realities: Trading realities
Click Here to register for free on Investors Hub
This area of the investorshub.advfn.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of Investors Hub. Investors Hub does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at Investors Hub is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by investorshub.advfn.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.
Register to chat with like-minded investors on our interactive forums.
